Morning Report Jun 12, 2024

NASDAQ (Price Jun 11, 2024: 17344)

Buy

Investors have paid higher prices over time to buy NASDAQ and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 16500 points. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for NASDAQ. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Nifty 50 (Price Jun 11, 2024: 23265)

Buy

Nifty 50 is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22000 points. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the rising trend and could be an early signal of a coming trend break. The index is overall assessed as technically positive for the medium long term.
Extended analysis

UK 100 (CBOE) (Price Jun 11, 2024: 811.44)

Buy

UK 100 (CBOE) is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken a support level in the short term and given a negative signal for the short term trading range. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 792 points. The short term momentum of the index is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for UK 100 (CBOE). However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically positive for the medium long term.
Extended analysis

Euro Stoxx 50 (Price Jun 11, 2024: 4965.09)

Weak buy

Euro Stoxx 50 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index is between support at points 4900 and resistance at points 5080. A definitive break through of one of these levels predicts the new direction. The index is assessed as technically slightly positive for the medium long term.
Extended analysis

Shanghai Composite (Price Jun 11, 2024: 3037.47)

Sell

Shanghai Composite is in a falling trend channel in the medium long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. The index has broken down through support at points 3070. This predicts a further decline. The RSI curve shows a falling trend, which supports the negative trend. The index is overall assessed as technically negative for the medium long term.
Extended analysis

Hong Kong - Hang Seng (Price Jun 11, 2024: 17948)

Watch

Hong Kong - Hang Seng has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The index has met the objective at 19064 after a break of the inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The index has support at points 17000 and resistance at points 19000. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

KOSPI (Price Jun 11, 2024: 2728.17)

Watch

KOSPI is in a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index is approacing resistance at 2760 points, which may give a negative reaction. However, a break upwards through 2760 points will be a positive signal. The index is assessed as technically neutral for the medium long term.
Extended analysis

Frankfurt - DAX (Price Jun 11, 2024: 18370)

Watch

Frankfurt - DAX has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 16400 and resistance at points 18860. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis

NYSE Composite (Price Jun 11, 2024: 17919)

Watch

NYSE Composite has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a support level in the short term and given a negative signal for the short term trading range. The index has support at points 17400 and resistance at points 18300. Volume has previously been low at price tops and high at price bottoms. This weakens the index. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically neutral for the medium long term.
Extended analysis